Tata Sees India Fertilizer Demand Dropping

Reuters reported that Tata Chemicals (BSE:500770) said it is anticipating a 15-20% drop in demand for fertilizer in India in fiscal 2013.

As quoted in the market news:

Any fall in demand will cut into India’s imports of the two chemicals, since the country imports all its potash and about 90 percent of its phosphate. A drop in consumption of diammonium phosphate and muriate of potash, also known as potassium chloride, would prompt farmers to turn to nitrogenous urea instead, since its price is still regulated by government.

Click here to read the full Reuters report.